President Donald Trump is reportedly expected to sign a deal facilitating the sale of the Chinese-based social media company TikTok to American investors on Thursday (September 25), two senior White House officials confirmed to NBC News .

The Trump administration has indicated that an agreement would be finalized between Chinese and U.S. officials for several days. A senior White House official confirmed that TikTok's U.S. operations would be run by the new joint-venture company once the deal becomes official.

ByteDance, the Chinese company that currently owns TikTok, is expected to hold less than 20% of ownership stock as part of the new deal, the White House official confirmed to NBC News . TikTok has not publicly acknowledged reports of a deal being close to an agreement.

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